PSA: Ravens wild ride will be wild. If you are long, remember that
This isn't a HODL post, if you are short, or just want to take your 170% gains, by all means… enjoy!
This is for ppl new to crypto or market investing and have a firm goal of being long on RVN for whatever reason.
At some point the market will test the downward pressure on RVN and wee will see a drop. This is normal and can go lots of different ways. Seeing the huge jumps over the past few days it is likely there will be a huge drop at some point.
When this drop happens the market is going to test RVNs downward resistance. Either the down trend will be resisted and the price will bounce back up quickly, or the resistance will evaporate and the low will dive lower and be tested again. Issue is, it is REALLLLYYYY hard to tell when it will start to drop and if the bounce will happen. We could see another 100% gain, or the market could test the price tomorrow.
If you are long don't fall into the trap of panic selling once you see the price starting to fall. The price might continue to fall and stay low for a while, or it might bounce back up very quickly. If it bounces back up you could lose coins when you try to buy back in. Or if you time everything out perfectly you could gain, but that is risky.
But i am not an expert, so yall do you and enjoy the wild ride.
submitted by /u/qbm5
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